Issuu

OUR TEAM Editors-In-Chief Liya Chen and Celine Ebert

Managing Editor Elizabeth Truelove

Graphic Design Head Elle Myers

Podcast Manager Ella Williams

Media Manager Rayna Li

Writers Anna Crook Christina Ding Dithyae Devesh

EDITORS'

LETTER

Dear Readers,

Welcome to "Breaking Barriers," our second edition of Emporio. This issue showcases the incredible contributions of women in business and monumental events in the world of business. Women have always been a vital force in the world of business, but unfortunately, they have often faced significant barriers and discrimination. From the gender pay gap to the lack of representation in leadership positions, women have had to work harder and overcome greater obstacles to succeed.

Ella Jaggar Emma Zhao Khushi Gohel Nadia Sethuraman Mili Pathak Rayna Li

Featured Artists Carys Brauns Emily Mcshane

Faculty Sponsor Sarah Harder

OUR MISSION Motivated by our passion for business, we created a publication covering news, information, and inspirational stories about women leaders in the global world of business and nonprofit organizations. With this inclusive publication platform, we will build a community that will explore issues exchange ideas and share voices.

But despite these challenges, women have continued to break barriers and make a greater impact in the business world. They have proven time and time again that they are more than capable of leading, innovating, and driving positive change in their respective fields. From entrepreneurs to executives, these women serve as role models for all of us and demonstrate the limitless potential and resilience of women in business. We hope that their stories will inspire and empower you to break your own barriers and make a greater impact in your own career. Most importantly, we would like to thank our passionate and diligent team. To Anna, Christina, Dithyae, Ella, Emma, Khushi, Nadia, Mili, Rayna, Carys, and Emily: your incredible dedication and visionary minds never cease to amaze us. To Elizabeth and Elle: your commitment to pushing staff writers and the publication design to their full potential has truly elevated the community within Emporio. To Dr. Fishel: thank you for making it all possible. To Mrs. Harder: thank you for pushing our barriers, always encouraging us to reach our potential.

TABLE OF CONTENTS 3

Record Breaking Highs Lead to Record-Breaking Lows

Female Entrepreneurs in the Fight for Equality

The Power of Inclusivity: Fenty Beauty's Diversity Efforts

Who is Erika H. James?

Mujeres Creando: The Feminist Anarchist Movement

Bosses of Baseball: The Women Behind the Leagye

Gone with the Old, In with the New: The Era of Short-term Rentals

Ford Leads the Way: Climate Change Mitigation

Youth Businesses in SubSaharan Africa

Career Preparation at the Hockaday School

Enterprenista: A Woman in the Early Social Media Marketing Agency

Maddie Bradshaw’s Journey with M3 Girl Designs

Record-Breaking Highs Lead to Record-Breaking Lows Summer is quickly approaching, and whether you plan to spend most of your break on vacation or just relaxing, you might be thinking about one thing: ridiculously high gas prices. After seeing the numbers on the fuel price signs soar to almost five dollars per gallon in Texas, even seven dollars in California, many realized that they spent almost 50% more money on gas in the month of June than they did in January of 2022, when the national average gas price remained just above three dollars.

“a significant decline in economic activity” which occurs for several months. In simpler terms, a recession happens when a country’s economy stops growing and starts shrinking, just like the current state of America.

Along with surging gas prices, inflation in America lies at its highest in four decades with prices of goods and groceries ballooning as well. The stock market dropped to an all-time low. These near-record prices and rates not only affect each citizen individually, but more importantly, the country’s economy. Observing all these statistics, economists and Americans foresee a recession in the near future.

There is no regularity to how and when recessions occur. For example, the Great Depression lasted four years, while the height of the COVID-19 pandemic only lasted two months. However, with recent statistics and insights, the chance of a presentday recession is high. “Analysts at Goldman Sachs put the probability of a recession over the next year at 30%, up from 15%. Economists at Bank of America predicted a 40% chance of a recession in 2023,” New York Times reporters Isabella Simonetti and Niraj Chokshi said on June 24, 2022. Bloomberg Economists also predicted a 75% probability of a recession kicking off the start of 2024.

Before diving into the details of America’s slumping economy, what is a recession? The National Bureau of Economic Research defines a recession as

Many factors lead up to a recession, including declining incomes, less industrial production, lowering employment rates and a shrinking GDP

04 (Gross Domestic Product). A bear market, when stocks decline at least 20% from their recent peaks, often precedes a recession as well. The United States’ most recent bear market began on June 13, 2022, and according to economists, stock prices will continue to fall. Even though these elements all play a role in the decline of the Unit economy, the main cause for the country’s recent economic slump lies in the hands of the Federal Reserve, the central banking system of the US. In an attempt to lower the decades-high inflation rates, the Federal Reserve resorted to raising interest rates. When interest rates rise, the cost of borrowing money from banks increases. As a result, people start to spend less and save their money. The domino effect then continues when the demand for goods and services drops due to the decrease in spending, eventually slowing down the economy altogether. When money is not spent, it hurts the businesses and markets that keep the economy running, leading to increased chances of economic decline. On the bright side, President Joe Biden’s administration emphasizes that a recession is not definite. The five-decade-low unemployment rate remains a silver lining amidst the weakening economy. Low unemployment rates lessen the government’s burden to spend money on welfare

programs and bring in more tax revenue, all together benefiting the country’s economy. So, what would happen if the United States fell into a recession? “Economists are generally describing any potential upcoming recession as mild or moderate,” Reade Pickert, a writer for the Washington Post, said. Even a “mild or moderate” recession would lead to hundreds of thousands of Americans losing their jobs, increasing the unemployment rate from 3.6% to between 4% and 6%. Due to the high inflation status, the Federal Reserve may not be able to step in to support the economy, prolonging the recession if it were to occur. “As hard as it is to forecast when a recession will occur, it’s harder still to envision what one would look like,” Pickert said. Although there is no one specific indicator of the nation going bankrupt, several factors of a declining economy have raised the question: will the United States fall into a recession? Will this recession be “mild” or “moderate”? Whether or not a recession will occur, citizens of the United States, especially the younger generations, are faced with an unpredictable economy ahead of them.

Graphics By: Carys Brauns Story By: Rayna Li

FEMALE ENTREPRENEURS in the Fight for Equality

On social media in the past four years, there has been a huge surge in startups and “small businesses.” Partly due to the Coronavirus pandemic and a subsequent increase in unemployment, many decided to start companies from their homes. Many people around the world are turning to these avenues of profit, often as a way of exploring personal passions. For small business owners, the benefits of becoming their own boss outweigh the monotony and inflexibility of an office. Although many of these companies are woman-owned, the majority are still run by men.

Many small business owners testify that running a business from the comfort of their homes decreases stress levels and bolsters mental health and happiness.

According to Fundra, there was reported to be a 115% increase in women-owned small businesses in the last 25. Despite the increase, not even a quarter of current small businesses are run by women. Why does there remain such a large bias between men and women in the field of business? Women are often perceived as the underdogs in fields like STEM, law/politics, and business largely due to perceptions that women are less likely to be competitive and independent than men. These harmful stereotypes are systematically ingrained into male-dominated fields, fueling wage gaps and unfavorable working environments.

Accordingly, focus within the corporate sector has shifted to accommodate the surge of small businesses. Now more than ever, small businesses and specifically those that are women-owned and/or a minority group are experiencing increased interaction on social media, leading to greater profit margins, kickstarting their commercial expedition. Social media exposure plays a monumental role in spreading the influence of small businesses that may otherwise be left in obscurity. With small businesses gaining traction, federal contracting, grants, and funding are all increasing accordingly.

According to the New York Times, women are less likely to pursue or consider a career in entrepreneurship because of these social factors. At the same time, many women find themselves in industries or workplaces with men who may not want to acknowledge them as leaders. Other challenges women face include assumptions about upbringing and familial reputation, unconscious bias in race, gender, and sexuality, marginalization and sexism in the workplace and related events.

With an ever-increasing percentage of women venturing into the world of self-operated small businesses, it is important to recognize the achievements and milestones met in the last few years. The U.S. Small Business Administration reports that from 2019, women-led businesses employed 10.1 million employees, generating nearly two trillion dollars in receipts. The number of employer firms grew six percent in a two-year period, twice the growth rate of male-owned small businesses. Such growth was mainly driven by an exponential, fourteen percent increase in minority, women-owned businesses. These positive-trend statistics pave the way for increased empowerment, self-confidence, mentorship opportunities, and more in the aspiring businesswomen of the future. Remember: shop small!

Benefits that come with operating a small business, particularly for women, include less interaction with the disadvantages and commonalities of corporate jobs.

Although insecure, those who choose to leave their office jobs receive the benefits of the intangible returns on their investment, some of which include: more time with family, being able to turn a hobby into a profession, and becoming heads of businesses. This allows them to learn managerial skills that usually fall to senior members in corporate settings and experiment with economic fluency.

Graphics By: Carys Brauns Story By: Emma Zhao

The POWER of Inclusivity:

Fenty Beauty's Diversity Efforts

“When you’re being inclusive, it should look and feel captivating,” said Rihanna, founder of Fenty Beauty. The world of beauty is changing as we know it, and inclusivity is becoming immensely widespread. From fashion to cosmetics, the range of options available to us now are far vaster then they have been in decades. Rihanna founded Fenty Beauty in order to include everyone and her efforts kickstarted the inclusivity movement in the cosmetics industry. When Fenty Beauty released 40 distinct foundation core tones in 2017 to bring out the industry's limited hue range, the company revolutionized the cosmetics business. As Fenty continues to release inclusive makeup, more companies in the beauty sector realize that customers prefer value-driven brands that they can relate to personally. Why are inclusive brands taking the industry by storm? According to the New York Times, 63% of Americans prefer beauty companies with diverse advertising because it represents a more genuine view of reality and shows more ways to be beautiful. The importance of inclusive beauty standards cannot be overstated because they transform a highly discriminatory business into an open and diversified place. The inclusive beauty movement dispels the stigma surrounding all people by encouraging them to be proud of who they are. It is not just beauty companies that are realizing the need for inclusivity; mass merchants, hair care brands, and high-end fashion designers are becoming aware of the the necessity for transformation to appeal to a wider customer base/appeal to more customers.

In 2018, Target expanded its selection of cosmetics for those with medium and dark complexion tones by 150 additional items. Many hair care brands are expanding their product lines to cater to a diverse spectrum of hair types. High-end fashion, an industry that notably excludes bigger body types, is also beginning to see much-needed size diversity in its products, with designers such as Prabal Gurung and Christian Siriano pioneering the path toward inclusivity. Diversity in the beauty industry is now becoming the reality for up-and-coming brands as well. Several newer makeup brands, taking inspiration from companies like Fenty, are focusing heavily on wide shade ranges in their products. For some beauty entrepreneurs, inclusivity is their selling point. Companies are drawing in a broader range of customers, making beauty more accessible by exploring nontraditional markets and underserved communities, providing a personalized and niche experience for the consumer. Seeing themselves in a product is what draws the attention of customers. It's captivating. Feeling represented is feeling empowered. That is what makes the beauty industry thrive today. Graphics By: Elle Myers Story By: Emma Zhao Photo: Citaty

Who Is...

Erika H. James?

In a world of crisis and uncertainty, Erika H. James shattered the glass ceiling to become the first woman and first person of color to lead the oldest business school in the US, the Wharton School at the University of Pennsylvania. On Feb. 26, 2020, Erika H. James was named the dean of the Wharton School, effective July 1 of that year. But, her journey to the top wasn't without obstacles.

several organizations that align with her passion for education and advancing women in business.

During 2020, the year of James’ appointment, the business education world faced two new challenges: the economic fallout from the COVID-19 pandemic and an unprecedented focus on racial justice following the Black Lives Matter protests. In an interview with McKinsey & Company, James shared that her academic roots in the research and teaching of crisis leadership techniques had prepared her for moments like these. Her resilience and experience allowed her to help the Wharton School effectively maneuver such dilemmas.

So how did Dr. James become the first female African American to serve as dean of a top-25 business school? She answered this question in a talk with the Goizueta Business School:

Prior to her appointment at Wharton, Dean James was the John H. Harland Dean at Emory University’s Goizueta Business School from 2014 to 2020. In addition to her academic responsibilities, Dr. James is a board member of Morgan Stanley, SurveyMonkey, a California-based market research and customer-experience company, The Philadelphia Orchestra and Kimmel Center, Inc. and

“When an opportunity was presented to me to lead a very significant business unit within the business

You may be shocked to learn that Dean James accomplished all of this without ever attaining an MBA nor any other business degree.

"It is a responsibility of a leader to reflect on the experience and recognize what there is to learn."

“It is the responsibility of a leader to reflect on the experience and recognize what there is to learn,” James says. James’ added experience in workplace diversity has also contributed to her unique approach toward deanship at Wharton. Dean James believes that the more diverse a team, the better, and encourages students from all backgrounds and educational fields to pursue their interest in an MBA. Further emphasizing this point, on Good Morning America, Dr. James said, “My strongest piece of advice to young people is to always bet on yourself.” This is important advice for anyone looking to succeed and make their mark in the world. By believing in ourselves and taking chances, we open ourselves up to endless possibilities and the opportunity to create our own path to success.

school, I remember thinking to myself, ‘I don’t have the background, I don’t have the experience, I don’t have the skills to do this.’” James often speaks publicly about her leadership principles and the need to change our own self-talk:

“I was talking myself out of accepting this opportunity. And it clicked to me that I was being quite hypocritical. I was not living by what I was communicating to others. It was at that moment that I realized if I want to have any integrity as a faculty member I have to heed my own counsel.” “So, I did accept that role, and that role led to the next role, which led to the next role. So that was really a pivotal moment in my career.” James’ specialty in crisis management has helped her overcome innumerable obstacles in her own career. Imparting her wisdom onto students in the Wharton Global Youth program, James reminds high schoolers of the five stages of crisis management: signal detection, preparation, containment, business recovery and learning. Graphics By: Carys Brauns Story By: Nadia Sethuraman Photo: UPenn.edu and CNBC

MUJERES CREANDO: The Feminist Anarchist Movement The Women's Bank - The women's bank channels all the funds from incoming international efforts to fight poverty, directing them to productive, interest-free loans. Microcredit loans are to be replaced by interest-free, social loans.

Mujeres Creando is a feminist anarchist movement created in 1992 in La Paz, Bolivia by Maria Galindo, Mónica Mendoza, and Julieta Paredes. Their actions are driven by the politics of every day and seek to have an impact on both the macro-level of structural issues and the micro-level of authority. History of Mujeres Creando The 1980s were a period of hyperinflation in South America, with disastrous consequences for the middle and working classes. Mujeres Creando emerged at a time of capitalist crisis, a time when Bolivia underwent intense political and economic change within an expulsive and debt-driven global economy. Made up of women from various cultural, social, sexual, and ethnic backgrounds, Mujeres Creando investigates creativity as a tool of resistance and social participation. This group fights not just for issues that pertain to or influence women's rights, but also against those that have a negative impact on society as a whole. The group aims to solve additional financial and economic concerns in addition to advocating for issues that affect women or women's rights. Mujeres Creando and Economy In an effort to create an equitable distribution of income and to emphasize the health and education of all community members, Mujeres Creando introduced in their constitution an ethical, nonprofit bank by creating three types of credit-granting institutions:

The Migrants' Bank - allow remittances (When migrants send part of their earnings home to support their families) to be channeled through a state entity that will allow one to receive credit for education without interest, to receive remittances without paying a transaction fee, and to put money in savings directly in Bolivia, rather than having to use an international bank. Municipal Financing - create non-profit banks to provide interest-free housing credits to the inhabitants of their cities. The title of the housing credits may be held exclusively by the mother of the household if she so desires. No benefits that are generated by the mother may become, obligatorily, the property of the father of the household.

10 Mujeres Creando believes in the value of work. As per their values, manual work, creative work, domestic work, and intellectual work need to be considered equally valid and part of the same process of work. They work to end salaried employment, which they considered an exploitative reality. Domestic workers perform work in or for a private household or household. They provide direct and indirect care services and are key members of the care economy. Mujeres Creando supports and promotes the idea that domestic workers will not be the responsibility of women, and that children of young sons and daughters will not become the responsibility of grandmothers. They also believe that public daycares need to exist in all workplaces to stimulate paternal responsibility, so children of young sons and daughters will not become the responsibility of the family. Mujeres Creando - Present Day Mujeres Creando has been working hard to make its vision a reality. Promoted as a means to alleviate poverty in the world, microfinance has actually proved to be a debt-creating engine, involving a vast network of national and local governments, nongovernmental organizations (NGOs), and banks, starting with the World Bank, serving mostly to capture the work, energies, and inventiveness of the poor women above all. Maria Galindo of Mujeres Creando said that microfinance has sought to destroy the survival strategies that poor women had developed in response to the crisis of male employment produced by structural adjustment in the 1980s. She makes this point in her writings with reference to Bolivia.

In an interview, Mujeres Creando told Notes from Nowhere that in 2001, they coordinated a 100day-long mobilization of poor debtors, bringing together more than 15,000 people victims of bank usury and NGOs granting micro-credits (at interest rates of up to 70%) from donated money. These activists worked alongside the organization of debtors and rethought the idea creatively as they were working with a large number of people who . wanted to get involved in peaceful protests. Mujeres Creando organized collective actions where everyone took part, women and men. In 2005, Mujeres Creando opened “La Virgen de los Deseos,” a self-managed building meant for the development of the feminist movement. “La Virgen” is a place where a group of women engages in different activities which help sustain the center, selling books and art, serving food, and maintaining lodgings for tourists who want to see the country or know more about Mujeres Creando themselves. However, “The Home of Mujeres Creando” is much more. It is home to “Mujeres en Busca de Justicia” (Women Seeking Justice), a free and unbureaucratic legal service that supports women who try to escape the vicious circle of violence. Within one year of operations, more than 800 cases have been processed. Still active today, Mujeres Creando continues to see success on many fronts. By collaborating, they have managed to break societal norms, change legislation, and, most importantly, significantly change people's lives for the better by helping them find a voice.

. .

Story By: Khushi Gohel

B SSES OF THE WOMEN BEHIND

It is 2023, and there have never been more opportunities for women and girls than there are now. Jobs in fields such as engineering, finance, and law—all previously male-dominated professions—have now become more accessible for women. Even more surprisingly, more women are beginning to find careers in sports, an industry that has historically been controlled by men. But few people know that this movement was started nearly 100 years ago by Effa Manley, the only woman in the National Baseball Hall of Fame. Born in 1897 to a biracial family in Philadelphia, Pennsylvania, Manley quickly learned that the world would simply not tolerate a woman in sports. After her husband acquired the Newark Eagles, a Negro League Baseball team, Manley took over the day-to-day business of the team and was invested in the personal lives of her players. Under her leadership, the Eagles won the Negro League World Series in 1946. Soon after, the Negro Leagues began to dissolve due to the desegregation of baseball. Manley, a cutthroat businesswoman, negotiated with the white owners to ensure that they respected the legitimacy of Negro League contracts, a feat that, to this day, remains her biggest accomplishment. Manley fought for equal rights for people of all races and genders until her death in 1981. Although she lived nearly a hundred years ago, Effa Manley’s legacy lives on today. She was inducted into the National Baseball Hall of Fame in 2006 and remains a role model for many women who aspire to follow in her footsteps. Baseball saw a record number of female coaches, managers, owners, and staffers in 2022, and a number projected to grow even more in the coming years.

These women have helped bring many new and positive changes such as valuable coaching, new perspectives and increased productivity. The increased employment of

women in baseball has led to a shift from a hyper-masculine, toxic environment into a more diverse and calmer workspace. Just like Manley, many female coaches have taken an increased interest in the personal lives of their players, and when these players feel valued, their performance improves. For example, Samantha Schultz, a pitching coach for the Oakland A’s, has seen tremendous results in the three years she has been with the team. Schultz has

BASEBALL BASEBALL: THE LEAGUE

a degree in astrophysics, and her new perspective has provided unique solutions for the A’s pitching staff that the other coaches cannot offer. Schultz’s insights are based on her knowledge of physics, while the rest of the A’s pitching staff only has experience in baseball. Schultz is also known by the players for her ability to keep a level head and troubleshoot with them, even when they continue to struggle with a difficult pitch. Women have also provided valuable insights off the field, in areas such as marketing, game attendance, contracts and hiring new employees. The latter two are the area of expertise of Kim Ng, the MLB’s first female and the first AsianAmerican general manager. Ng’s job significantly overlaps with Manley’s, as she also oversees her team’s contracts, coaching staff and makes many other important financial decisions. Also like Manley, Ng is featured in the Hall of Fame’s Diamond Dreams exhibit,

the designated section of the Hall of Fame that recognizes women, and, according to experts, could eventually join Manley as the hall’s second female inductee. Kelsie Whitmore is turning heads as the first woman to start in the Atlantic League, an independent baseball league that is the equivalent of a high-level minor league team. Whitmore is a two-way player, meaning that she can pitch, hit and also is an exceptionally fast base runner. Although she hit a few bumps along the road, Whitmore has steadily climbed up the ranks to a starting position on her team and earned the respect of her teammates and coaches. She hopes to eventually attract the attention of professional scouts and work her way up to the major leagues. Although each of woman has different skill sets and goals, they—along with every other woman in baseball—all have one thing in common; their paths were paved by Effa Manley, the only woman in the Baseball Hall of Fame, and an inspiration for women and girls everywhere.

Story By: Celine Ebert & Anna Crook Photo: Canva

Gone with the Old, In with the New: The Era of Short-term Rentals Picture this. It’s spring break, and you’re going to visit Paris. Browsing the web for hotels, you sift through dozens of overpriced 3-star hotels. Suddenly, you spot an Airbnb listing for only two-fifty dollars a night. “Wow,” you think, “It’s only five minutes from the Eiffel Tower, sleeps four people, and has a kitchen? That’s a steal.” You can’t resist the comfort of a home away from home and book the Airbnb right away. While hotels and hostels used to be the go-to option for travelers looking for lodging, short-term rentals are quickly becoming the preferred vacation stay. It’s no surprise, considering that sites like Airbnb and Vrbo often offer cheaper prices, larger spaces, better locations, and more authentic experiences than traditional hotel rooms. Short-term holiday rental companies are completely transforming the travel industry, with Airbnb raking in more sales per month than some of the biggest hotel chains in the United States. According to the Boston Hospitality Review, “Airbnb supply grew by over 100% year-on-year from 2007 to 2008” and will continue to grow and impose on demand for traditional hotels. While vacationers relax in the unmatchable “experiential authenticity” of home-hotels, housing markets are in crisis due to unprecedented inflation. Airbnb states that its mission is “to unlock the power of sharing space, resources, and support in times of need,” a seemingly innocuous and honorable statement. The company recently released an article, revealing that the rise in inflation caused 2022’s drastic increase in new hosts, which suggests that hosts mostly turn to Airbnb in times of necessity. However, with landlords moving their properties from the long-term rental market to short-term vacation rentals, the housing market is losing inventory. While many short-term rentals are small-scale or familyrun, The Wall Street Journal states that investment firms are entering the realm of hosting, in pursuit of high returns. Both individual landlords and big-time investors are entering the short-term rental scene, leading to higher housing prices that are dependent on local tourism. A Social Science Research Network study states that “a 1%

increase in Airbnb listings leads to a 0.018% increase in rents and a 0.026% increase in house prices.” The percentages may seem meager, but the steady climb of Airbnb offerings causes gradual inflation in housing market prices that may, in the long run, stack up. In the United States and other countries, local governments are taking measures to combat the barrierbreaking impacts of short-term rentals on regional housing markets. For example, cities like New York City have implemented strict regulations on short-term rental hosts. NYC law prohibits renting out flats for less than 30 days in most buildings, among other regulations. Former NYC city council member Ben Kallos writes that “We need every apartment being listed illegally back on the market to help our affordable housing crisis.” Over the last decade or so, short-term rentals have transformed the travel industry, forever altering how people choose to vacation. Despite severe housing crises and strict government crackdowns, companies like Airbnb will continue to thrive. AirDNA, which specifically analyzes data from Airbnb and Vrbo, states that “interest in vacation rental stays has exceeded even high expectations…and further [grow] demand by 5.5% year over year.” Promising the “experiential authenticity,” the demand for short-term rentals seems to be here to stay.

Story By: Liya Chen Graphic By: Elle Myers

Ford Leads the Way: Climate Change Mitigation

Currently, the automotive and transport industries are responsible for the largest amount of carbon emissions. These sectors contribute significantly to air pollution around the globe. However, the Ford Motor Company is effectively transforming through its multiple environmental initiatives. Like many corporations trying to meet the goals of the Paris Climate Accord, Ford aspires to support their manufacturing plants entirely with renewable energy by 2035 and has taken many unique steps to achieve this goal. Ford has shown a strong commitment to reducing carbon emissions, specifically by investing over $11 billion dollars into electric vehicles. In 2020, they released car models like the Mustang Mach-E which had zero emissions. Almost 90% of the environmental impacts from the automotive industry come from fuel consumption and emissions, but Ford’s strong investment actively deconstructs this harm. In fact, not only is Ford consistent with guidelines presented by the Paris Climate Accord, it is entirely ahead of its time. In 2017, Ford reduced emissions from their plants by 30% for every single vehicle they produced, which was almost a decade earlier than the original goal of 2025. Beyond this, Ford’s factories have installed Geothermal cooling systems that have created flexible fuel capacities, meaning that they are able to run on either ethanol or gas. Finally, Ford’s cars consist of sustainable fabrics in their vehicles, while almost 80% of their vehicles are entirely recyclable.

The tremendous work that Ford Motor Company has done regarding climate change mitigation has not gone unnoticed. In fact, Ford is the only company that has won the Environmental Protection Agency’s (EPA) Energy Star Award, which is awarded to organizations that have made outstanding environmental contributions, twice in a row. Moreover, Ford is among one of 35 U.S.based companies to land on the Carbon Disclosure Project’s (CDP) “A-List” for companies engaging in climate change mitigation initiatives. “Climate change is an undeniable business risk if unaddressed and we must transition to a low-carbon economy now to avoid the worst impacts,” Bruno Sarda, CDP president of North America. One-third of the population is willing to pay more for sustainability, and around 85% of people indicated a shift towards sustainable purchases since 2017. Sarda’s words grow truer by the day, and companies need to account for this fact to remain profitable and avoid business risks. While Ford is a company that is front-lining the fight against climate change, it should not be an anomaly. As customers continue to shift their purchases to support highly-sustainable goods, companies need to shift alongside changing circumstances. Even though corporations are already beginning to do so, there is much to be done before they can be viewed as friendly in the public eye. To truly break societal barriers, companies must learn how to massively reduce carbon emissions and incorporate sustainability into their business practices. By leading the way, Ford has not only broken barriers within the transport industry but also the entire business world as well. Graphic By: Carys Brauns Story By: Mili Pathak

Youth Businesses in Sub-Saharan Africa

The social and economic environments in which young people in sub-Saharan Africa are growing up are changing quickly, contributing to high unemployment rates, which, according to data from the World Bank, were expected to reach an average of 7.6% in 2021. International organizations, governments, schools and Non-governmental organizations (NGO’s) are presently promoting entrepreneurship to youth as a crucial strategy for reversing this problem. Developing a resilient entrepreneurial culture is one of the most crucial things society can do to create a sustainable future, especially among Africa's youth, who make up a sizable and expanding portion of the continent's population. Generally, young people in Uganda, Ghana and Zambia have quite good attitudes regarding working for themselves; they have a fair amount of faith in their capacity to launch a firm and think the chances for entrepreneurship are favorable. Most view starting a business as not only a viable choice, but also as their preferred route to finding employment. The Global Entrepreneurial Monitor (GEM) 2012 Sub-Saharan African Regional Report, the most recent survey in Sub-Saharan Africa done by GEM, reveals that the youth in Sub-Saharan Africa have generally high positive attitudes towards entrepreneurship and that doing business is a more common source of employment than in other regions of the world. Entrepreneurship is perceived as a viable career opportunity and the youth are more willing to start a business. The following specific data on some Sub-Saharan countries confirm this finding and show that positive attitudes and perceptions are stronger in some countries than in others.

About 50% of the informal trainees interviewed for an ILO study in Malawi claimed that they wanted to start their own business after informal training. According to the same report, the percentage of informal trainees who started their own company is as high as 80% in Tanzania. A 2009 labor market survey on technical, entrepreneurial, vocational education and training (TEVET) in Malawi reveals that 57.6% of the interviewed apprentices were willing to engage in self-employment in order to obtain a higher income and level of independence. The development of an entrepreneurial mentality and skill set is necessary for youth. Higher education institutions, for-profit training companies and NGOs with a training-focused mission all contributed to developing these skill sets in young entrepreneurs. The main objective of the NGOs was to support young entrepreneurs in rural areas without access to formal educational institutions. By facilitating indirect skill transfer through mentoring relationships, mentors and other support personnel also aid in skill development. Despite the fact that entrepreneurship education is still in its infancy, numerous training providers are attempting to establish a business-minded mindset.

The Ugandan government is pushing entrepreneurship education in the hopes that it will provide young people the information and skills they need to launch their own firms. Given that 60% of young people in Uganda who graduate from institutions do not find employment, there is a keen understanding of the need to support young people in starting their own businesses. In addition to being taught in secondary schools, colleges and universities, entrepreneurship is also being considered as a subject for primary schools. Although there is no universally accepted definition of entrepreneurship education, Fernando Alberti defines it as, "the formal and systematic conveyance of entrepreneurial competencies, which in turn refer to the concepts, skills, and mental awareness used by individuals during the process of starting and developing their growth-oriented ventures." Although there has been little research on entrepreneurship education, the few studies that have been conducted suggest that exposure to certain types of entrepreneurship education, can help individuals become more successful entrepreneurs.

It is suggested that governments should work to expand the supply of entrepreneurs, particularly by launching entrepreneurship training programs, since entrepreneurship can favorably affect economic growth and development. After completing these entrepreneurship education programs, many young people still choose to work for others. For many, this is a purposeful move that enables them to accumulate funds for business investments and create crucial networks. Many young individuals run a business in addition to having a job. When combined with those who run a business in addition to their other employment, over two-thirds of the sample report having their own business. It is crucial to understand how young people mix their schooling, work, and businesses. Young people's desire to engage in entrepreneurial activities is evident in the relatively high percentage of African youth who plan to launch a business as well as their general positive attitude toward entrepreneurship. When supported, this energy would result in job creation, economic growth, and improved well-being for both the youth and general population. Story By: Khushi Gohel Photo: Pixabay and Wikimedia

CAREER PREPARATION AT THE HOCKADAY SCHOOL Revolving around the four cornerstones of Character, Courtesy, Scholarship and Athletics, the Hockaday School “develops resilient, confident women who are educated and inspired to lead lives of purpose and impact,” as said in its school mission statement. Hockaday prepares girls to be leaders and change-makers in their respective fields, as proven with the words of current students, teachers and alumni. Junior Sophia Chen and sophomore Shreya Vijay both appreciate the academically difficult yet welcoming atmospheres in Hockaday classrooms, as it gives them a feel for the challenges that could face in their future careers. “Hockaday encourages us to speak up in classes, which empowers us to become more comfortable speaking and communicating in all kinds of environments,” Chen said. Although the curriculum at Hockaday can be rigorous, Vijay views the intense workload from a positive perspective: “Hockaday provides us with challenges that we are able to overcome with the support of the community around us.” Kyulee Kim, a Hockaday graduate and freshman at the University of Pennsylvania, states that the opportunities and events offered by Hockaday allow students to nurture their leadership and time management skills, which are essential for succeeding in the future.

“Whether it is through clubs, sports or community service, Hockadaisies get involved in what they're passionate about, take initiative, and create positive impacts in the community,” Kim said. Upper School math teacher Natalia Ismail said that Hockaday’s unique courses not only teach students to understand concepts, but also teach them how to apply the knowledge to the real world. “With courses like Economics, Biology and the Zoo, Statistics and Anatomy…students have the opportunity to see how what they are learning applies in a variety of career fields,” Ismail said. Through tactics such as small classes and rigorous curriculum, but most importantly the community of students, teachers and mentors, Hockaday transforms girls into young women, preparing them to thrive and excel in their careers.

"Hockadaisies get involved in what they're passionate about, take initiative, and create positive impacts in the community."

Story By: Rayna Li

Enterprenista:

A Woman in the Early Social Media Marketing Agency During the rise of social media, companies struggled with presenting themselves online. Stephanie Cartin noticed these companies needed help forming strategies and trying to generate sales from social media. Unhappy in the corporate world, Cartin followed her passion for social media and hospitality and created the leading social media agency in New York City. In an interview with Emporio, Cartin takes us on a journey, recounting her captivating life. Although she originally wanted to pursue the art of theater, Cartin did not go to school for acting. Instead, she majored in hospitality and business management with a concentration in sales and marketing at Cornell University. Released during her sophomore year at Cornell, Facebook instantly intrigued Cartin. As one of the earliest users of Facebook, she remembers thinking, “This platform is going to change everything.” While the nascent social media industry was still developing, Cartin worked in hospitality for a few years before noticing a need in the market for social media agencies, which prompted her to create Socialfly. As she and her business partner Courtney Spritzer started taking on Socialfly clients, they continued working their corporate jobs for 10 months. On May 4, 2012, Cartin and Spritzer quit their corporate jobs. They continued to grow their clientele by joining networking groups for the next few years. In Oct. 2015, Cartin and Spritzer released their book Like, Love, Follow: The Entreprenista's Guide to Using Social Media to Grow Your Business. “We wrote our book for two reasons. One: We wanted to continue to position ourselves as thought leaders to stand out in a service-based business field and stand out from other companies. Two: We wanted to write a book that was a guide for social media and to help other Enterprenistas first start their business.” Cartin said when asked why she chose to write a book.

This book helped promote their business and pushed them to create their podcast Enterprenistas in November 2019. Their influential podcast sparked the curiosity of many female listeners who wanted to start businesses. Entreprenistas releases a new episode every week with successful women in the business world sharing their stories and advice. Though Socialfly was Cartin’s first business, it is not her only one. Markid is an online marketplace where parents can buy and sell children's gently used and new items. Cartin came up with the idea because her baby daughter had many toys she no longer needed. She realized that Facebook Market Place and Craigslist did not have a user experience helpful for parents. She wanted to create a platform that enabled e-commerce (new items) and reverse commerce (used items) on one platform. Cartin immediately shared her idea with Spritzer, who enthusiastically responded, “Oh my gosh! It is so funny you say that because Ankur Dhawan, my former boss from American Express, just reached out to me because he is building this exact platform right now. He is looking for marketing help.” Since Cartin and Dhawan had different skill sets, they partnered together perfectly. Cartin became part of the Markid team, and they have been operating since February 2020. As for her other businesses, Cartin is also a co-founder of Pearl Influential Capital, which helps woman-owned consumer brands raise money for their business through influencers and influential investors. “My theater background really prepared me before being in business because you learn so much by performing, being on stage, and being in front of people and being able to do professional speaking and sales; it's all connected,” Cartin said. As a female trailblazer in the social media industry, Cartin has inspired many women to start their own businesses and supported them along their own entrepreneurial journeys. Story By: Ella Jaggar

Maddie Bradshaw’s Journey with

M3 Girl Designs Have you ever thought of a fantastic idea and wanted to create a business based on it? Well, Hockaday alumna Maddie Bradshaw ’14 did just that! Founder of M3 Girl Designs and creator of Snap Caps, Bradshaw talks about how her business as a young teen impacted her life and what she is up to now. When Bradshaw was going into middle school, she was very excited about having a locker for the first time. She hoped to decorate her locker with magnets but could not find any she liked. Since she was a very creative child, she took some recycled bottle caps from her uncle’s old-fashioned Coke machine and turned them into magnets. She drew some designs, glued them inside the bottle cap, attached a magnet to the back, and used them to decorate her locker. Her friends loved her creation and asked her to make some for them, and things took off from there. When trying to think of ways to bring her magnets outside the lockers, Bradshaw realized she could make them into necklaces, which helped bring some of her personality to Hockaday. These necklaces were made with magnetic bottle caps, where you could swap the bottle caps out. You would have one necklace and a selection of different bottle caps that you could swap out depending on your mood. Given the popularity of her necklaces, Bradshaw approached a local toy store and asked the owner if she wanted to sell them. The owner agreed, and her business began to grow. As the business expanded, Bradshaw needed more help and turned to her family. M3 Girls Designs was born, with the M standing for the first letter of the family’s names — Maddie, Margot, and Mom. In 2010, Snap Caps were being sold in about 300 stores in the South, primarily in Texas. The Snap Cap business found themselves featured in various publications and achieved sales over $1.5 million in 2011. The next year, the Bradshaws went onto the show, Shark Tank. At the end of their pitch to the Sharks, the Bradshaw girls settled for $300,000 in exchange for 30% equity in the business. They managed to not only rope in one, but three investors to invest in their company: Mark Cuban, Robert Herjevic and QVC Queen Lori Greiner.

After the investment of three Sharks, the Bradshaw business soared to much greater heights. M3 Girl Designs expanded the brand further, inserting the bottle caps into note cards, necklaces, journals, bracelets, hair bows, and more. At the peak of the business, Snap Cap necklaces were in approximately 3,000 stores across the country, with sales of 50,000 to 60,000 necklaces per month. Bradshaw continued to run the business throughout high school and decided to shut it down the summer after her freshman year of college because of a change in interests. Bradshaw admits that she made many mistakes as a young business owner. “A lot of the mistakes that I made really just had to do with the fact that I was a young person trying to grow a business, and I didn’t have any formal entrepreneurship training. I did the best I could with the amount of knowledge I had and the amount of background I had, but at the end of the day, I was a kid learning most of this stuff through Google,” Bradshaw said. “I think the advice that I would give myself or really to any young person is not to be afraid to try something. I would encourage any young person if they have an idea that they’re excited about, to try, and you never know what will happen,” Bradshaw said when asked about advice she would give to her 16-year-old self. Bradshaw is grateful for her experience building a business because the lessons she learned still apply to her everyday life. The biggest takeaway from her business experience is related to the confidence she gained along the way. Often finding herself in rooms and conversations with people who were decades older than her and had years more experience, she had to quickly learn to speak confidently, even when nervous. These public speaking skills certainly help her today in all she does. “I didn’t realize this when I was a Hockaday student, but Hockaday provided me with so many opportunities that I’m so grateful for. It is a very special place, and the teachers you meet, even if you don’t realize it at the time, really shape you as you get older,” Bradshaw said. Now, Bradshaw lends her knowledge to a small education startup and has a few things in the works. Though it has been a long time since her first entrepreneurial journey, Bradshaw is still very passionate about growing a business. She stays connected with Hockaday by helping with the Breaking the Glass Ceiling class and mentoring Hockaday students as needed. Story By: Ella Jaggar and Dithyae Devesh

The future isn't a place that we're going to go. It's a place that you get to create." -Nacy Duarte, entrepreneur